Award

D2N2-0723 D2N2 Early Stage Angel Investment Fund (ESAIF) Fund Manager

D2N2 LOCAL ENTERPRISE PARTNERSHIP

This public procurement record has 5 releases in its history.

Award

24 Sep 2024 at 13:04

Award Notice
Tender

09 Aug 2023 at 09:29

Tender Notice
Tender

09 Aug 2023 at 09:21

Tender Notice
Planning

09 Feb 2023 at 15:01

Market Engagement Notice
Planning

02 Feb 2023 at 11:09

Market Engagement Notice
Summary of the contracting process

The D2N2 Local Enterprise Partnership has successfully awarded a contract for the management of the D2N2-0723 Early Stage Angel Investment Fund (ESAIF) to Haatch Ventures LLP. This procurement process was conducted using an open procedure, and the contract was awarded on 8th November 2023, with the award notice published on 24th September 2024. The fund, valued at £340,000, aims to stimulate equity investments in early-stage start-up businesses between 6 months to 2 years old in the East Midlands region. The contract period will commence on 1st May 2024 and end on 30th April 2029.

This tender offers significant opportunities for small and medium enterprises (SMEs) within the venture capital and corporate finance services industry. The fund requires a 1:1 co-investment rate from the successful Tenderer, making it a viable option for SMEs looking to expand their investment portfolios. Companies with expertise in fund management, venture capital services, and a strong understanding of the local economic landscape are well-suited to compete and benefit from this opportunity. By participating, businesses can leverage D2N2's substantial £4 million investment to support promising start-ups, thereby contributing to regional economic growth.

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Notice Information

Notice Title

D2N2-0723 D2N2 Early Stage Angel Investment Fund (ESAIF) Fund Manager

Notice Description

Established in 2010, D2N2 is a Local Enterprise Partnership (LEP) operating in the local authority areas of Derby, Derbyshire, Nottingham, and Nottinghamshire to grow the area's economy. Local enterprise partnerships are non-statutory bodies responsible for local economic development in England. D2N2 is one of the largest LEPs in England, with a population of more than two million people and with an economic output of over PS50.5 billion GVA (gross value added). D2N2 is looking to establish an early stage angel investment fund (the Fund) in order to promote equity investment in a core client group where intervention is required to stimulate real opportunity, namely early-stage, start-up businesses between 6 months to 2-years old, typically requiring small amounts of pre-seed and seed investment. D2N2 has up to PS4m to invest and requires a 1:1 co-investment rate from the successful Tenderer. D2N2 proposes a Limited Partnership fund structure for the Fund in order to deliver the investments. D2N2 is looking for a service provider who will be appointed to establish the Fund (including taking the role of General Partner of the Limited Partnership) and to be responsible for the day-to-day operation, decision-making and management of the Fund (the Fund Manager).

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-91ecc609-4836-4820-9024-21461a4ee52b
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/f4a3e959-68ee-4a5a-b8b8-0503d980ede2
Current Stage
Award
All Stages
Planning, Tender, Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
SME, VCSE
Awardee Scale
SME

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66122000 - Corporate finance and venture capital services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
£340,000 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
24 Sep 20241 years ago
Submission Deadline
11 Sep 2023Expired
Future Notice Date
24 Feb 2023Expired
Award Date
8 Nov 20232 years ago
Contract Period
30 Apr 2024 - 30 Apr 2029 Over 5 years
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
D2N2 LOCAL ENTERPRISE PARTNERSHIP
Additional Buyers

DERBYSHIRE COUNTY COUNCIL

Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
MATLOCK
Postcode
DE4 3AG
Post Town
Derby
Country
England
Major Region (ITL 1)
TLF East Midlands (England)
Basic Region (ITL 2)
TLF1 Derbyshire and Nottinghamshire
Small Region (ITL 3)
TLF13 South and West Derbyshire
Delivery Location
TLF East Midlands (England)
Local Authority
Derbyshire Dales
Electoral Ward
Matlock West
Westminster Constituency
Derbyshire Dales

Supplier Information

Number of Suppliers
1
Supplier Name

HAATCH VENTURES

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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